Integration of digital and real economy, corporate intellectual capital and supply chain disruption risks

Purpose This study aims to explore the impact of the integration of digital and real economy on corporate supply chain disruption risks as well as the mediating effect of intellectual capital on the above-mentioned relationship. Design/methodology/approach This study uses patent and listed company data from Chinese prefecture-level cities from 2011 to 2023. Patent co-classification and text analysis methods are employed to measure the variables, and an empirical test is conducted using a double fixed-effects regression model to analyze the impact. Findings The integration of digital and real economy significantly reduces supply chain disruption risks. This effect is more pronounced in central and western regions, areas with a higher degree of market development, state-owned enterprises, high-tech industries and regions with high levels of digital infrastructure. The mechanism analysis reveals that the integration enhances corporate intellectual capital, particularly human and relational capital, which in turn helps reduce supply chain disruption risks. Originality/value This study provides empirical evidence on how the integration of digital and real economy affects supply chain disruption risks, emphasizing the role of intellectual capital as a mediator. The findings offer valuable insights for policymakers and businesses to optimize infrastructure and policies for digital integration, enhancing corporate intellectual capital to mitigate supply chain risks.